Surprisingly gas prices are still going up. Today we are at $2.37.
Company announcements are indeed strage things. There is a flicker of gas, enough to light a candle and then it dies. So we have had our production test and there is no production.
Transerve had similar problems in WA, a reasonable flow that was killed by the water inflows.
Since most of the Woodford and Barrett are produced from horizontal wells I was curious how the management expected to have a good result for a verticle well.
Us punters don't know what this all means. The company has given us a detailed description of what has taken place. Accurate and true. But what we want is an intrepretation of the results. It certainly looks like a turkey. If in fact there are no positives here, it certainly appears so. The company should just come out an say so.
CELO holders will have to sit tight and wait to see what happens. A captive audience for good or bad.
Karoo news is a month overdue, still time for a last minute rescue before the options die and the company runs out of money. Stranger things have happened, the fat lady hasn't arrived yet.
Condolences
Saltbus
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